THE MARQUIS TOUCH
6/3/2008 12:26:29 PM by Sandy Lindsey
Yachting icon Irwin Jacobs is at the top of his game as his Genmar empire of 14 boat brands is now the top-seller in the 50-foot and up category, selling more yachts in that range than anyone else in the world.
Photos by Peter Caspari and Courtesy of Genmar
“I go cruising every chance I get — it’s not as much as I’d wish, but I go when I can,” says Irwin Jacobs, referring to his busy position as chairman and CEO of Genmar Holdings, Inc., and the resulting long hours it takes to oversee 14 boat brands from luxury yachts down to aluminum boats, especially in a less-than-stellar economy. “I’ve been boating and fishing since I was a little boy. I grew up in Minnesota where you saw a boat on a lake everywhere you turned. I’ve done big-game fishing, but my passion is for freshwater fishing. Still, I’m a passive recreational angler. I just love to get outdoors in Northern Minnesota and Canada. There’s more to my feelings about boating and fishing than my words can convey. It’s a lot more than passion. My father passed on his love of fishing to me and if there’s one thing I could have, I wish I’d had more time to fish with him.”
Jacobs, in turn, has passed his love of all things water-related to his four daughters and son. “My kids have been around the world, but they still appreciate quality time fishing and the quiet moments you get on a boat when you can really talk.”
In fact, he says, one of his most interesting memories on the water occurred while bass fishing in Canada. “It seemed like just another lazy day fishing when this tiny sunfish grabs my hard bait,” he says, almost hearing the groan of frustration. “Suddenly this huge muskie grabs the sunfish and the challenge is on. That fish was absolute magic in the air.” After a hearty battle, Jacobs was able to boat the 51-inch muskie, which wouldn’t fit in any net they had on board. It was subsequently released.
“I’ve owned boat companies long before I was on Wall Street,” says the former corporate raider. “I acquired my first boat company, Larson, in Little Falls, out of bankruptcy in 1978. Over the past 30 years, I’ve owned a total of 18-19 boat and yacht companies. Boats make us more versatile. You can eat, sleep, socialize and fish on them. You can’t go out on the water in a truck.”
“I try to use and sleep aboard as many of our models as possible,” he adds. His significant experience aboard translated into the launch of the new, innovative Marquis Yachts just under six years ago. “I saw the success of Carver Yachts and began to think ‘Where can we go beyond Carver? What can we do with our resources in design and manufacturing?’ And that became Marquis. We’re able to do things with — and put things aboard — Marquis models that we couldn’t with the Carver brand due to size, price and the customer base.”
And most would agree, Marquis is a breakthrough product in the yachting industry. “There’s a lot of innovative thought put into each yacht. We took the aspects of the best of what everyone was doing, the most creative visions, and the best marketplace offerings, and combined them to create yachts that offer space, design and edgy perception of the product.” Jacobs attributes much of this success to yacht design firm Nuvolari-Lenard. “They are exclusive to us in our category,” says Jacobs. “They are a proven firm and we were very confident from the start that their designs would be well-received.” Perhaps one of the best examples of the firm’s impact are the fine edges and Euro good looks of the Marquis 50 Super Sport. “From the sleeping quarters to the conversation areas, there’s a distinct feeling of openness and one almost feels outdoors due to all the glass,” says Jacobs.
With every new model, Marquis is establishing a reputation for each yacht’s innovative use of space aboard to create truly livable interiors. “Space aboard was one of our most important concerns,” says Jacobs of his input into the design. “With Marquis, yachtsmen see space used in a way they’d not gotten before, including plenty of elbow room. The acid test of any product is not what I think but how the consumer judges it,” says Jacobs, mentioning the 50 sold out at the Miami International Boat Show. “Even in a dicey yachting economy, Marquis is having great success. Genmar is the top-selling boat builder in the 50-foot and up category. We sell more yachts than anyone else in the world.”
And, affirms Jacobs, Marquis and the rest of his fleet are in a unique position. “As Genmar is not a public company, we don’t have to worry about earnings every 90 days,” he says. “We’ve also determined that there are people who will buy yachts no matter what the economic climate. This is historically proven. Those buying in difficult times tend to want the newest and the best.” And that’s just what he plans to give them.
The next step in Jacobs’ multi-year plan is to go bigger. “Our facility can handle 100-foot yachts,” he says. “Our next projects will be a 92-footer for the U.S. and an 88-footer for Europe. We hope to have the first 92 completed by spring 2010. Not only will these models be the ultimate test, they’ll be the ultimate reward. I believe we’ll be sold out on the 88 and 92 before the first hull hits the market.” And it seems that if the recent sold-out success of his larger models are any indication, his compass is pointing in the right direction.